Mkts end in red on profit booking; Airtel dips 9pc
Mumbai, Feb 15: The markets ended the day on a negative note on profit selling in oil & gas, power, telecom, cement, select banking, auto and metal stocks.
Telecom heavyweight Bharati Airtel plunged 9 per cent to be named the day's biggest loser. The company is in talks with Zain to acquire its African business.
While the 30-share BSE Sensex closed at 16,038.35, down 114.24 points or 0.71 per cent, the 50-share NSE Nifty fell 0.52 per cent or 24.90 points to 4,801.95.
The broader indices also followed the benchmarks into the red zone. The BSE Midcap Index declined 0.56 per cent and Smallcap was down 0.4 per cent.
However,
the
losses
were
limited
due
to
buying
in
technology,
select
capital
goods
and
pharma
stocks
along
with
JSPL,
Tata
Steel,
ITC,
Hero
Honda
and
HDFC
Bank.
4:19
PM
Inflation woes hit mkts, benchmarks dip
The rise in Jan 2010 Inflation numbers and continual selling pressure in telecom, power, realty, cement, banking, select metal and oil & gas stocks weighed on the markets.
At 12:45 am, 30-share BSE Sensex was trading at 16055, down 96 points and NSE Nifty was at 4797, down 29 points.
The losses were limited by the buying in select auto, technology and pharma stocks along with Reliance Industries, BHEL, JSPL and Tata Steel.
Prakash Industries, Usha Martin, Polaris, Spice Comm and Amtek Auto gained 3 to 4 per cent in the midcap space, while KGN Industries, HOEC, Blue Star, Bajaj Hindusthan and Bank of Maharashtra declined 2.5 to 5 per cent.
AP
Paper
Mills
surged
16.61
per
cent
in
the
smallcap
arena.
Ahmednagar
Forging,
JMC
Projects,
India
Glycols
and
Tube
Investment
gained
6.6
to
10
per
cent
while
Elpro
Int,
KRBL,
Maharashtra
Polybutenes,
Selan
Exploration
and
Hinduja
Venture
dipped
5
to
7
per
cent.
1:47
PM
Mkts gain support from buying in IT, auto, pharma
Sensex was hovering around the previous closing point as selling pressure troubled banking, FMCG, oil & gas (barring Reliance) telecom and select power stocks.
However, the markets were gaining strength from the buying in technology, auto and pharma stocks along with heavyweights BHEL and Reliance Industries. Among other gainers were DLF, Tata Steel, Hindalco and Siemens.
At 10: 20 am, BSe Sensex was trading at 16166, up 14 points and the NSE Nifty was at 4830, up 3.65 points. The broader indices were outperforming the benchmark indices. The BSE Midcap Index was up 0.4 per cent and Smallcap up 0.8 per cent.
Amtek Auto, Spice Communication, Prakash Industries, Polaris and Gujarat NRE Coke were the midcap gainers, up 3 to 5 per cent. Falling 1.6 to 2.6 per cent, Shriram Transport Finance, Blue Dart, Hind Oil Exploration, REI Six Ten and Rajesh Exports were the losers.
In
the
smallcap
arena,
AP
Paper
Mills,
Diamond
Cables,
Ahmednagar
Forging,
Tube
Investment
and
JMC
Projects
shot
up
6.7
to
11.9
per
cent
while
KRBL,
Elpro
Int,
aurionPro
Solution,
Vindhya
Telelink
and
Kanani
Industries
slipped
4
to
6.4
per
cent.
11:
39
AM
Mkts open higher on IIP growth, trading volatile
Nifty opened higher on the back of 16.8 per cent growth in industrial production (IIP) during Dec 2009 as against negative 0.2 per cent in Dec 2008. The markets were trading amid volatility.
At 9:02 am, NSE Nifty was trading at 4838, up 11 points and BSe Sensex was at 16192, up 39 points. The CNX Midcap was at 7299, up 21 points.
Tata Motors, M&M, Idea Cellular, DLF, BHEL, Jaiprakash Associates, HCL Tech and IDFC were seeing buying interest while ICICI Bank, ONGC, HUL and ITC were the frontline losers in early trade.
In the Midcap and Smallcap arena, Orbit Corp and HMT were trading marginally lower. Profit booking forced Shree Ashtavinayak to fall 3.5 per cent while KRBL dipped 5 per cent.
However,
Fame
India
surged
5
per
cent.
9:45
AM
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